Kinder Morgan Inc. on Jan. 16 posted fourth-quarter 2018 adjusted EBITDA of $1.96 billion, up from the $1.90 billion the company reported during the same period a year earlier.
The S&P Global Market Intelligence consensus estimate of adjusted EBITDA was $1.93 billion.
The company's distributable cash flow during for the fourth quarter of 2018 was $1.27 billion, which beat the $1.19 billion posted in the prior-year quarter.
The Houston-based energy transportation giant reported net income of $483 million, recovering from a loss of $1.05 billion during the same quarter in 2017.
For full year 2018, Kinder Morgan reported adjusted EBITDA of $7.57 billion, beating the $7.20 billion posted the prior year.
The S&P Global Market Intelligence consensus analyst estimate of full-year adjusted EBITDA was $7.52 billion.
The company's distributable cash flow for 2018 was $4.73 billion, up from the prior year's $4.48 billion.
Kinder Morgan reported full-year net income of $1.48 billion, far ahead of the $27 million it reported a year earlier.
The company attributed "significant growth" to its natural gas segment. "Contributions from our natural gas segment were up substantially compared to the fourth quarter of 2017," Kinder Morgan CEO Steve Kean said. "We continued to make progress on two projects critical to the development of resources in the Permian Basin, the Gulf Coast Express and Permian Highway Pipeline projects."